Pickup in US-Mexico Business
A June 2010 report from the American Chamber of Commerce of Mexico highlighted a number of factors that make investment in Mexico attractive.
At the top of its list was Mexico’s macroeconomic stability. Mexico is expected to experience GDP growth of 3.9% over the course of 2010, despite taking a large hit in the global meltdown of 2008 and 2009. Mexican unemployment has held steady around 6%. The Mexican banking system has made responsible decisions in recent years and inflation has been stabilized at levels comparable to the US. The report stated
“Mexico is a strategic economic partner of the U.S. American Chamber/Mexico is committed to working with Mexico in its efforts to reduce crime, to create more and better economic opportunities for its citizens, to improve transparency and the rule of law, and to promote greater integration between our two nations.”
International businesses have noticed. Nissan has plans to build a $600 million plant for the manufacture of the Mikra. Chrysler/Fiat has plans for a $550 million investment. Procter & Gamble have plans for a $250 million razor blade plant. Freightliner is building a $445 million truck plant.
All of this increases the importance of the US/Mexico import export industry, since over eighty-five percent of the country’s exports are destined for the US. We at Express World Trade, Inc. are prepared for increases in volume and anticipate an even better import export relationship between the two countries.